This happens a lot

286 Round Hill

Round Hill listing withdrawn. 286 is a beautiful old (1900) house on 3 1/2 acres in the 2 Acre district. I liked it very much, but it was listed in July, 2009, at $5.375 million. That price was cut substantially in September ’09, to $4.950 and again this past January to $4.495.

Having cut almost a million dollars from her desired price without effect, the owner has evidently decided that she will go no further, and who can blame her? Of course, she still owns the house, and if the point of listing for sale was to get rid of it, withdrawing won’t accomplish that objective.

As discussed here before, there are many houses “for sale” in Greenwich that really are only for sale at the owner’s desired price. When reality strikes, those homes disappear.

2 Comments

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2 responses to “This happens a lot

  1. Inagua

    The owner paid $1.19 million in 1992 when the S&P 5oo was 412. Someone should tell her that unleveraged homeowners almost never do better than the stock market.

  2. Jimbo

    “As discussed here before…”

    Is that tongue-in-cheek? The tendency of sellers to overprice their houses is the one overarching, consistent theme of this website.